Bitcoin at all time highs

[lamboguy]

while gold prices throughout the world are staggering. go figure

[thaskalos]

The world's new currency! :ThmbUp::ThmbUp:

[RunForTheRoses]

Its insane. I put $200 in to fund my 5dimes account on 4/22 but wound up not doing so, funded it another way. I now have $257 in my coinbase. A huge return in two weeks.

[davew]

Its insane. I put $200 in to fund my 5dimes account on 4/22 but wound up not doing so, funded it another way. I now have $257 in my coinbase. A huge return in two weeks.

It is only a return if you realize it - bitcoin has also had some mighty crashes in it's history

[lamboguy]

still going higher every day. now $1858 was $752 beginning of the year was $.06 in 2010.

i don't understand this alternative currency, but i guess it fooled me and most other people. i am thinking that gold has to catch up to this.

[tucker6]

trading at an all time high. Over $4,000 per bitcoin. I shoulda bought at $800.

http://www.businessinsider.com/bitcoin-bitcoin-cash-ethereum-price-bitcoin-breaks-4000-2017-8

[lamboguy]

correct me if i am wrong, bitcoin is just another form of currency that you can use to either store or transfer it to others so you can pay for something. there is no actual coin or piece of paper, just something that has been created in cyberland.

seeing that it is an alternative currency, its alternative is all the other currency's in the world including gold and silver to bitcoin. so the price is based on the value or lack of value of things like united states dollars, japaneese yen, chinese yuan, russian rubbles, british pounds and gold and silver

to me this price action is saying that every other currency is going to hell in a handbasket including gold.

the way that bitcoin has been trading is quite scary to me, its basically saying that the world is coming to an end. i for 1 am not about to subscribe to that theory. i will continue to breath this great air and hopefully for another 20 years or so.

[davew]

to me this price action is saying that every other currency is going to hell in a handbasket including gold.

.

to me, this action is saying that bitcoin is trading in a bubble

[tucker6]

to me, this action is saying that bitcoin is trading in a bubble

Ding, ding. Ding.. we have a winner.

[barn32]

.

[BaffertsWig]

Some analysts are predicting $13,000 by January. Bitcoin gets all the publicity, but there are quite a few "new" cryptocurrencies gaining traction available to purchase on coinbase. Time will tell if this is all one long pump and dump or the currencies of the future.

[tucker6]

Some analysts are predicting $13,000 by January. Bitcoin gets all the publicity, but there are quite a few "new" cryptocurrencies gaining traction available to purchase on coinbase. Time will tell if this is all one long pump and dump or the currencies of the future.

Where would you place your bet on that question? Seems pretty obvious doesn't it. Bitcoin can go away tomorrow if the govt wanted it to. Simply by opening an investigation into either money laundering and terrorism financing. Bitcoin and others like it is a fragile commodity, and stands only because govts are currently finding it convenient to let them live. Once that convenience ends, ...

[_______]

Where would you place your bet on that question? Seems pretty obvious doesn't it. Bitcoin can go away tomorrow if the govt wanted it to. Simply by opening an investigation into either money laundering and terrorism financing. Bitcoin and others like it is a fragile commodity, and stands only because govts are currently finding it convenient to let them live. Once that convenience ends, ...

Unless the internet is shut down in total, there is no way for any government to completely shut down Bitcoin. Part of the reason blockchain is popular is because of it's lack of dependence on any central control. Bitcoin is a ledger where transactions are entered. That's all it is.

That doesn't mean there aren't ways for a government to make things difficult for it's citizen's to openly transact on that ledger. But there are also ways around most of the likely restrictions.

[jms62]

Unless the internet is shut down in total, there is no way for any government to completely shut down Bitcoin. Part of the reason blockchain is popular is because of it's lack of dependence on any central control. Bitcoin is a ledger where transactions are entered. That's all it is.

That doesn't mean there aren't ways for a government to make things difficult for it's citizen's to openly transact on that ledger. But there are also ways around most of the likely restrictions.

But they could make it illegal in their country which would have a dramatic affect on pricing. If those want to have exposure GBTC. I went short 10 shares today will cover on break of all time high.

[Valuist]

Modern day Tulip-mania. Manias never end well.

[lamboguy]

i was looking at a closed end fund that mimics bitcoin, and it is trading at a 75% premium. if i was allowed to short them, i would go long gold as the hedge.

[Actor]

Banking On Bitcoin

Movie on Netflix. :coffee:

[lamboguy]

https://www.rt.com/business/401265-bitcoin-russia-control-exchange/

[tucker6]

... and so it begins.

[Valuist]

The problem with Bitcoin is it is too volatile to be used as a pricing mechanism.

[upthecreek]

http://my.xfinity.com/video/jamie-dimon-bitcoin-will-eventually-blow-up-it-s-a-fraud/1044939331771/Comcast/CNBC_new?cid=featuredfinance_sf_ bitcoin&tab=Finance

[lamboguy]

now $3400 and falling!

https://www.reuters.com/article/us-china-bitcoin-btcc/bitcoin-exchange-btcchina-says-to-stop-trading-sparking-further-slide-idUSKCN1BP1J8

[Fager Fan]

Bitcoin reminds me of carbon credits, which somehow some people get rich from marketing to others to invest in nothing.

[tucker6]

Bitcoin reminds me of carbon credits, which somehow some people get rich from marketing to others to invest in nothing.

Very astute observation. :ThmbUp: